Hess Recognized Among World’s 100 Most Sustainable Corporations

01.19.2017

Hess Corporation has been recognized as one of the Global 100 Most Sustainable Corporations for the third time by the Toronto-based media and investment research firm Corporate Knights. The 2017 list was announced at the World Economic Forum in Davos, Switzerland.

Hess is the only U.S. oil and gas producer named to the list and ranks 73rd overall among companies in all industries.

The Global 100 ranking is structured to recognize the transparent disclosure of sustainability data and the actual performance of individual companies.

“Being ranked among the world’s 100 Most Sustainable Corporations is an honor and demonstrates our company’s commitment to transparency and sustainability,” said
Alex Sagebien
, Vice President of Environment, Health and Safety at Hess.

According to the 2017 report, published by Corporate Knights magazine, companies are evaluated using an intense screening process and those that emerge constitute the shortlist. Corporations making the shortlist are then scored on the key performance indicators for their industry. The top overall performers from each sector are named to the Global 100, subject to the number of slots reserved for each sector.

Hess Reports Estimated Results for the First Quarter of 2020

Hess Corporation (NYSE: HES) today reported a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020, including impairment and other after-tax charges of $2,251 million resulting from the low price environment, compared with net income of $32 million, or $0.09 per common share, in the first quarter of 2019. On an adjusted basis, the Corporation reported a net loss of $182 million, or $0.60 per common share, in the first quarter of 2020.

Hess Corporation today announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also announced a new $1.0 billion three year term loan agreement. These actions further strengthen the company’s cash position and financial liquidity in response to the sharp decline in oil prices.